Solve the System by Eliminating the Variable

question 125

Essay

Solve the system by eliminating the variable. If the system is dependent or inconsistent , indicate this.

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Definitions:

Marginal Utility

The change in satisfaction or utility that a person receives from consuming one additional unit of a good or service.

Total Utility

The total satisfaction or value a consumer receives from consuming a particular quantity of goods or services.

Additional Unit

Refers to the next unit of production or consumption, often analyzed in terms of its cost or benefit.

Utility

Utility is an economic concept referring to the total satisfaction received from consuming a good or service.